1. Latest News
  2. Submit Press Release
SGM Metals Logo

SGM Metals: ADP Finds Their Conscience, 1.17M Jobs Created in 2012, NOT 4M, OOPS!

Those with 1/2 a brain have known the employment data has been massaged to keep presidential politics moving forward. Now ADP has admitted to basically doubling the numbers to make things look better than they are, get ready for the truth folks!

ADP has admitted to distorting the jobs data, net loss of 365,000 jobs for 2012!
ADP has admitted to distorting the jobs data, net loss of 365,000 jobs for 2012!
Nov. 2, 2012 - PRLog -- Zerohedge.com reports: [ Frequent readers know that any "data" and "numbers" coming out of ADP we have mocked with a passion, which every month releases its "Private Jobs" number a day before the official BLS Non-farm Payroll data. Today, our mockeries of ADP data has been proven 100% spot on. The reason? A week ago, ADP announced that going forward it would coordinate with Moody's & especially its chief economist, SecTres hopeful Mark Zandi, to fudge adjust its data going forward. What the early release allowed us to promptly calculate is that using the historically revised numbers, & comparing those based on the original methodology, in 2012 alone, the US would have lost a whopping... 365,000 private jobs! Putting thus number in context, according to the revised methodology, the US has generated ONLY 1.172MM jobs in 2012 through September, or in other words, a statistical "fix" magically eliminated over 30% of what the market had previously expected were job gains, a number which the incumbent president has certain taken advantage of on more than one occasions while campaigning.

The chart below shows the old data series (which can still be found at the St. Louis Fed), and the new series, which can be extracted from the advance leaked press release. The cumulative difference is the black line. It needs no explanation.

What is also of note, is that had ADP used its revised methodology, it would have missed 5 out of the past 7 Wall Street consensus estimates.

As an added bonus, whereas according to the previous release, which we were lucky enough to tag here, the US generated +4,000 manufacturing jobs in September, the new release indicates that in the same month, the US actually lost -17,400 manufacturing jobs. Perhaps it is time to rerun the Ohio presidential speeches one more time...

Basically the "job creation" in America is & has always been a function of an excel spreadsheet, & seasonal fudge factors, as ADP just definitively confirmed.  As such, we look forward to the next "revision" which will eliminate a further 1.1 million private jobs in 2012, showing an economy that has added virtually no jobs in the current year.

To summarize: "If you think America created jobs, it didn't. ADP made that happen."]

The jobs data calculations have been completely fraudulent for sometime now. The Prez has been touting his huge 4M job creation victory in 2012 but it looks like the actual job creation number is more in line around 1.17M jobs, a 75% reduction in what was supposedly the justification for the supposed ‘recovery’?

The numbers we can rely on are the inconceivably huge number of people who have been forced to turn to govt. aid to sustain their families during this depression, & yes I called it a depression because that is what we have here. A rose by any other name is still a rose, right? Well guess what, a completely fabricated jobs recovery is still a fabricated jobs recovery. We have also proven that the inflation numbers have been manipulated by showing you that they have hidden the true rate of inflation by conveniently swapping those items most glaringly affected by the inflation rate with others that are not quite as impacted, but this scheme is losing its plausibility too. What this all means is that we have been intentionally misled to believe that we are in a recovery so that those baby boomers who have lost 1/2 of their retirement savings & investments (& don’t have enough time to replenish them before the are expected to be tapped into) don’t freak out & instead remain good little voters so the presidential election goes smoothly. It means that once we get passed this election cycle who ever gets to be the boss is going to have to admit that we aren’t anywhere near a recovery. This will be used to justify the FED having no choice but to print even more money which will only serve to make this dynamic worse & get the bankers more tax payer funded bailouts without any expectation of repaying it in the name of saving the banks who will in turn save the nation supposedly.

We are in a really bad situation here & without the ability to ‘see the forest for the trees’ there is no way on earth anyone can properly invest to manage this crisis much less turn a profit. For this reason the concept of ‘moving to the sidelines’ so to speak in order to regroup & take a defensive position until someone with a backbone can come forward & tell the truth may be the right play, at least for the time being. So how do we ‘move to the sidelines’? Well, ordinarily that statement would mean simply selling your stocks & bonds & going to a ‘cash’ position while you wait for your opportunity to re-enter the markets. The problem is that the FEDs current stated goal is to literally “make it uncomfortable for investors & savers to stay in cash” because they are gutting the value of the dollar by printed these inconceivable waves of bailout freebies for their banker buddies all so they can appear solvent in order to hide their bankrupted balance sheets. That’s right folks! The FED is knowingly destroying your grandmothers savings account she has toiled her whole life to amass just so they can cover up the insolvency of the crooked bankers. Rather than help the nation, the FEDs only concern has been (& will continue to be forever more as they are in interdependent) helping the banks cover up their insolvency. What do you expect when we have a private banking cartel responsible for the creation of credit & currency (which is wholly against the founding fathers monetary rules set forth in the US Constitution, article 1, section #8 if you aren’t sure) in our nation? They have to have the banks in order to channel the debt based money (debt based because every dollar created has an interest rate attached to it) into the hands of the citizens & a govt. to demand that it be used throughout the economy or everyone would defer to saving their money in physical gold & silver & simply using the fiat paper money to pay bills. This ironically is the solution for everyone in this disaster moving forward if you are tired of watching your stock portfolio slowly climb back up only 3-5% over the past four years which has only happened as a byproduct of the inflation seeping into the stock markets since it now takes more of those dollars to buy the same stocks of companies struggling to sell products to a nation of people who cant find work. This will all come to a head soon enough, will you be safely on the silver & gold sidelines watching the value of your holdings multiply in value by the day as the dollar continues its decline in value against the other currencies of the world?

Its finally time the nation know that the govt. has been misleading the nation to keep them calm while they pump almost 50 TRILLION of new money into the global economy just to try & balance the suicide bankers lopsided balance sheets to keep them from collapsing. Rest assured, now that the govt. has shown favoritism as far as what banks they would bailout & those they wouldn’t, has created behemoth monstrosity zombie banks that are now well beyond too big to fail & they are held hostage by this monster like never before in history. Establish your “Depression Insurance Policy” in physical gold & silver bullion now & take a defensive posture in the sound money debate. Inflation can morph into hyperinflation when denied this long, recessions degrade into depressions when jobs arent available & currency wars can & often do spin into trade wars than can morph into real wars. Remember that it is a far better strategy to PREPARE your portfolio than to attempt to REPAIR it once the damage has begun. You have been shown that all the statistics used to convince you we have been in a recovery over the past four years have been fudged, what more do you need to run, not walk, into the safety of precious metals? Tick, tock.

--- End ---

Click to Share

Contact Email:
***@sgmmetals.com Email Verified
Source:SGM Metals & The Elemental Economist
Location:Palm Beach Gardens - Florida - United States
Industry:Banking, Business
Tags:Moodys Wall Street manufacturing jobs, inflation gold USD
Verified Account Email Address
Verified Account Phone Number

Disclaimer:   Issuers of the press releases are solely responsible for the content of their press releases. PRLog can't be held liable for the content posted by others.   Report Abuse

Latest Press Releases By “


Trending News...

Like PRLog?
Click to Share